LOS ANGELES--(BUSINESS WIRE)--The Resmark Companies, a full service real estate investment advisor, has launched Resmark Impact Ventures to broaden institutional investors' access to diverse and qualified real estate investment advisors by partnering with and mentoring the field's next generation of leaders. Resmark Chairman and CEO Robert N. Goodman will serve as president of the new division, and has named Patricia Bartlett, Senior Vice President of Resmark Apartment Living, as Chief Operating Officer of Resmark Impact Ventures.
Resmark Impact Ventures was established to broaden institutional portfolios by providing access to emerging managers with extensive local market knowledge, asset class expertise and diversity of experience and culture, according to Goodman. An emerging manager is often defined as investment manager with less than $1 billion in assets under management that has raised no more than three commingled funds or separate account investments.
“Resmark’s own history as an emerging manager inspired our appreciation for mentoring younger, diverse talent and solidified our commitment to promoting opportunity for the next generation,” noted Goodman. “I have long been a champion of mentoring as an important catalyst for success, another compelling factor for us to establish this new platform.”
Goodman said the company will raise capital commitments from pension funds, foundations and other institutions that are motivated to develop and add diverse resources to their existing pool of investment advisors. Investments made on behalf of the funds will typically be joint ventures and will be expected to produce attractive, risk-adjusted returns.
Resmark will act as a “manager of managers” and apply its deep transactional experience, exceptional reputation as a fiduciary and robust back office structure to the joint ventures with its small and mid-sized joint venture partners. Resmark also will provide strategic advice, operational guidance and access to its broad network of relationships.
“Our goal is to enable successful emerging managers to progress beyond their relationships with Resmark and become independent advisors within three to five years,” Bartlett emphasized.
In her new role, Bartlett will draw on her seven years of experience as an executive of Resmark, as well as more than 15 years of real estate investment and finance experience. Working closely with Goodman and supported by the 35-person Resmark team, Bartlett’s duties will include mentoring, due diligence, corporate governance, financing and loan negotiations, dispositions, investor reporting and back office management. She will continue to be extensively involved in the origination, development and management of the Resmark Apartment Living portfolio.
Before joining Resmark, Bartlett was an executive with one of the largest privately owned mixed-use community developers in the Western United States. Her professional background also includes positions with Fremont Investment & Loan, Tarsadia Hotels, Finova Realty Capital, and Sperry Van Ness. Ms. Bartlett earned a Bachelor of Arts degree in Economics, magna cum laude, from the University of California, Irvine.
About The Resmark Companies
Founded in 1995, Resmark is a leading national private equity firm focused on real estate and powered by core foundational discipline and focus. A fully integrated real estate investment group, The Resmark Companies' divisions—Resmark Land and Housing, Resmark Apartment Living and Resmark Impact Ventures—finance, acquire, develop and manage real estate in the Western United States, including California, Washington and Arizona, as well as in other select major metropolitan markets nationwide. To date, Resmark has participated in over 170 projects encompassing more than 27,000 single-family and multifamily residential units. Headquartered in Los Angeles, Resmark also maintains corporate offices in San Diego and Chevy Chase, Maryland. For additional information, please visit www.Resmark.com